Tuesday, March 17, 2009

I Honestly Don't Know

I've read about government bail outs and the economic stimulus package. I've watched TV news shows about it. I was at a meeting yesterday when Specter, Casey, Kanjorski and Carney talked about it, and I still haven't made up my mind.

There are those who believe business failures are part of the natural economic cycle. Still, you hate to see all those innocent employees suffer because of bad decisions made by the people running the show. We pay to bail out the businesses and banks-- or we pay unemployment compensation for the people who lose their jobs. It's going to cost us either way.

We keep businesses and banks afloat now, but we saddle the generations to come with a lot of debt.

I think people would feel better about the whole thing if they know their money is being spent wisely and efficiently. We've all seen how good government is at doing that.

You can't wave a magic wand and fix the problem. It's too late to reverse the excesses of the past. Deregulation is not necessarily a bad thing. Unfortunately, some people misbehaved because there was no scrutiny, no oversight. That has to be fixed, and fast.

Specter, Casey, Kanjorski and Carney all agreed yesterday that doing something is better than doing nothing. I just hope what we're doing is the right thing.